First Quarter 2016

In This Edition

Economic activity at the state level varies greatly across U.S. regions, with different states specializing in the production of particular goods and services. This heterogeneity in activity informs the geographic distribution of U.S. imports and exports.

Despite economic growth in the post-World War II period, few developing countries have been able to catch up to the income levels in the United States or other advanced economies. Such countries remain trapped at a relative low- or middle-income level.